Himalaya Food International Limited has officially notified BSE Limited regarding the resignation of M/s. Garg Bros & Associates, Chartered Accountant, from their role as statutory auditor. The auditing firm submitted their resignation letter on April 02, 2026, citing preoccupation with other professional and audit assignments as the primary reason for their inability to continue.

Resignation Details and Timeline

The auditor firm formally tendered their resignation effective April 02, 2026, through a detailed letter addressed to the Board of Directors. The resignation was subsequently accepted by the company's board during their meeting held on April 07, 2026, and communicated to BSE Limited on April 10, 2026.

Reason for Resignation

In their resignation letter, M/s. Garg Bros & Associates clearly stated their inability to devote adequate time to the audit and related matters of the company due to preoccupation with other professional commitments. The firm expressed gratitude to the Board of Directors and management for the cooperation and assistance extended during their tenure as statutory auditors.

Regulatory Implications

The resignation has resulted in a casual vacancy in the office of the statutory auditor pursuant to Section 139(8) of the Companies Act, 2013. The intimation was made in compliance with Regulation 30 read with Schedule III - Part A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates immediate disclosure of material events to stock exchanges.

Corporate Communication

Company Secretary Megha Saini signed the official communication to BSE Limited's Corporate Relations Department. The digitally signed letter included the complete resignation letter from the auditing firm as Annexure A, ensuring transparency and regulatory compliance. The communication was authenticated and submitted following proper corporate governance protocols.

Company Profile

Himalaya Food International Limited operates with CIN L70102DL1992PLC047399 and maintains its registered office at 118, 1st Floor, 12 Gagandeep Building, Rajendra Place, New Delhi-110008. The company operates manufacturing plants in Shubhkhera, Paonta Sahib, Himachal Pradesh, and Vadnagar, Mehsana, Gujarat.

Himalaya Food International Limited has scheduled its Extraordinary General Meeting (EGM) for May 2, 2026, following the board's approval of multiple strategic corporate decisions on April 7, 2026. The company has formally notified BSE Limited about the EGM scheduling under Regulation 30 of SEBI (LODR) Regulations, 2015.

EGM Details and Shareholder Participation

The EGM will be conducted on Saturday, May 2, 2026, at 03:00 PM (IST) through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The cut-off date for determining eligible shareholders is April 25, 2026, with members whose names appear in the Register of Members or Beneficial Owners list maintained by depositories entitled to vote and attend the meeting.

Authorized Share Capital Enhancement

Shareholders will vote on increasing the company's authorized share capital from ₹90,00,00,000 to ₹150,00,00,000, representing an enhancement of ₹60,00,00,000. This increase aims to facilitate proposed fund raising initiatives including rights issue, preferential allotment, private placement, and conversion of loans into equity.

Fund Raising and Loan Conversion Provisions

The EGM agenda includes approval for enabling provisions to raise funds through multiple mechanisms, including conversion of outstanding loans as on March 31, 2026, and any further loans into equity shares up to ₹25 Crores, at the option of promoters and lenders. The provisions also cover issuance of equity shares through rights issue, preferential issue, or other regulatory-compliant methods.

Banking Settlement and Auditor Appointment

The board has already approved and noted the final sanctions from all four consortium banks for concluding a One Time Settlement (OTS) worth ₹43 Crores, with ₹21.50 Crores already released to consortium banks on March 30, 2026. Additionally, shareholders will vote on appointing M/s Kumar Rupak & Associates as the company's statutory auditor.

The company has engaged Central Depository Services (India) Limited (CDSL) to provide e-voting facility, with remote e-voting commencing on April 29, 2026 (9:00 AM) and ending on May 1, 2026 (5:00 PM). Mr. Himanshu Bhatia of Himanshu & Co., Company Secretaries has been appointed as scrutinizer for the voting process.